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RadioShack files for bankruptcy a second time
Source: USA Today
RadioShack files for bankruptcy a second time
Mike Snider , USA TODAY Published 8:09 a.m. ET March 9, 2017 | Updated 17 minutes ago
Electronics retailer RadioShack has filed for its second bankruptcy in two years and will close 200 of its 1,500 stores.
The Fort Worth, Tex.-based company previously filed for bankruptcy in 2015. Since then, General Wireless, a joint venture of hedge fund Standard General and Sprint, acquired the chain and ran 1,700 stores.
General Wireless announced Thursday that it had entered a Chapter 11 filing in the U.S Bankruptcy Court in Delaware.
RadioShack is closing about 200 stores and is evaluating options on the remaining 1,300, the company said. Stores remain open for business, as does its website RadioShack.com, which promoted a clearance sale on its home page.
The chain, founded in 1922, has been run as a privately held company since the 2015 bankruptcy. “Over the course of the past two years, our talented, dedicated team has worked relentlessly in an effort to revitalize the Company and the RadioShack brand, while providing outstanding service to our customers. We greatly appreciate their hard work and dedication," said RadioShack CEO and President Dene Rogers in a statement.
Mike Snider , USA TODAY Published 8:09 a.m. ET March 9, 2017 | Updated 17 minutes ago
Electronics retailer RadioShack has filed for its second bankruptcy in two years and will close 200 of its 1,500 stores.
The Fort Worth, Tex.-based company previously filed for bankruptcy in 2015. Since then, General Wireless, a joint venture of hedge fund Standard General and Sprint, acquired the chain and ran 1,700 stores.
General Wireless announced Thursday that it had entered a Chapter 11 filing in the U.S Bankruptcy Court in Delaware.
RadioShack is closing about 200 stores and is evaluating options on the remaining 1,300, the company said. Stores remain open for business, as does its website RadioShack.com, which promoted a clearance sale on its home page.
The chain, founded in 1922, has been run as a privately held company since the 2015 bankruptcy. “Over the course of the past two years, our talented, dedicated team has worked relentlessly in an effort to revitalize the Company and the RadioShack brand, while providing outstanding service to our customers. We greatly appreciate their hard work and dedication," said RadioShack CEO and President Dene Rogers in a statement.
http://www.usatoday.com/story/money/business/2017/03/09/radioshack-files-bankruptcy-second-time/98943636/
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